INTERNATIONAL PURCHASERS
Buyer Eligibility Overview
1. Non-Bermudians (New Buyers)
Require Economic Investment Residential Certificate (EIRC).
Must invest a minimum of $2.5 million (property alone or combined with other Bermuda investments). See below for more information on EIRC.
| Property Type | Eligible To Purchase | Minmum ARV | License Fee |
|---|---|---|---|
|
Private Home |
✓ (EIRC) |
$126,000 |
12.5% |
|
Condominium |
✓ (EIRC) |
$25,800 |
8% |
|
Hotel Residence / Fractional |
✓ |
N/A |
6.5% |
|
Vacant Land |
X |
N/A |
N/A |
2. Non-Bermudians With Existing Residency Certificate
- If you have purchased a property prior to March 2021 and had obtained a Residency Certificate you are NOT restricted by the EIRC requirements.
| Property Type | Eligible To Purchase | Minmum ARV | License Fee |
|---|---|---|---|
|
Private Home |
✓ |
$126,000 |
12.5% |
|
Condominium |
✓ |
$25,800 |
8% |
|
Hotel Residence / Fractional |
✓ |
N/A |
6.5% |
|
Vacant Land |
X |
N/A |
N/A |
3. PRC HOLDERS
- PRC holders are unrestricted in purchasing most property. However, they are not permitted to purchase vacant pand, derelict buildings or Governemtn established condominiums.
| Property Type | Eligible To Purchase | Minmum ARV | License Fee |
|---|---|---|---|
|
Private Home |
✓ |
N/A |
6% |
|
Condominium |
✓ |
N/A |
6% |
|
Hotel Residence / Fractional |
✓ |
N/A |
6.5% |
|
Vacant Land |
X |
N/A |
N/A |
4. BOTC, SOOUSE OF BERMUDIAN, BELONGER & MORE
Some of these categories can be tricky and we recommend reaching out to Shrubb Realty for more information of your particular situation.
COMMERCIAL
Non-Bermudians can invest in Bermuda commercial property, typically through a local company structure that requires at least 60% Bermudian ownership, limiting non-Bermudian stakes to 40%. The purchase does not incur a specific residential license fee, but buyers must navigate standard stamp duty and land tax obligations based on property value, along with corporate compliance requirements. This pathway is designed to encourage foreign investment while maintaining local control.
WHAT IS THE ECONOMIC INVESTMENT RESIDENCY CERTIFICATE (EIRC)?
Purpose of the EIRC
The primary goal of the EIRC is to promote long-term economic growth in Bermuda by encouraging substantial financial commitments from international investors, particularly through real estate and local business investment. The certificate offers the holder residency rights, simplifying the process of living and investing in Bermuda.
Investment Requirements
To qualify for the EIRC, prospective international buyers must:
Invest a minimum of $2.5 million.
Investment options include:
Purchase of residential real estate that meets the required minimum Annual Rental Value (ARV).
Investment in Bermuda businesses, infrastructure projects, or approved financial instruments.
Any combination of property and other approved investments totaling at least $2.5 million.
Property ARV Requirements
Private Home: Minimum ARV of $126,000.
Condominium: Minimum ARV of $25,800 (currently under governmental reconsideration).
These ARV thresholds typically correspond to higher-end properties, ensuring the investment aligns with Bermuda’s luxury real estate market.
Fees Associated with EIRC
Property License Fees:
Private Home: 12.5% of purchase price.
Condominium: 8% of purchase price.
Hotel Residences or Fractional Units: 6.5% of purchase price.
Application Fee:
A one-time application fee of $2,625 (subject to change).
Residency and Other Benefits
EIRC holders gain the right to reside in Bermuda indefinitely, subject to ongoing compliance with investment conditions.
Family members (spouse, dependent children) typically included in the certificate, allowing them also to reside in Bermuda.
The EIRC can serve as a stepping stone to more permanent residential status over time.